Electricity move takes money out of your pocket

DEUN

Tuesday’s DEUN media release was prompted, yet again, by concerns over the Government’s recent policy decisions, which we believe will lead to higher, not lower, prices to domestic consumers. You can read the full media release here.

Apparently the Government’s electricity decisions were designed to make the market more competitive, which implies that it might be cheaper for domestic consumers. This may happen but the indications so far aren’t encouraging.

Competition comes at a cost and we’re very concerned that that cost may well be carried by our home users.

If you need proof, take a look at how wholesale prices rose in February and soared in March. That delivered extra revenues to the generation sector of $180 million during March alone.

I’d be keen to hear from you about how your energy bills were looking over the first months of 2010. I’m also interested in what you make of the Government’s new competitive strategy and whether you think it’s the answer to fairer pricing for domestic electricity consumers?